Question 1 0/0.8pts
Which of the following is not a function performed by an accountant?
Measure economic events in financial terms.
Report economic events in financial statements.
= ) Records economic activities of a business.
€ © Observe events.
Incorrect.
Correct answer
Question 2 0.8/0.8 pts
Which financial statement explains the changes in retained earnings between
two dates?
Balance sheet.
@ statement of retained earnings.
Income statement.
Statement of cash flows.
Correct.
, Correct answer
Question 3 0.8/0.8 pts
Which of these is the basic accounting equation?
Liabilities + assets = equities.
Revenues - expenses = net income.
Assets - revenues = equities.
@ Assets = liabiliies + equities.
Correct.
Which of the following is not a function performed by an accountant?
Measure economic events in financial terms.
Report economic events in financial statements.
= ) Records economic activities of a business.
€ © Observe events.
Incorrect.
Correct answer
Question 2 0.8/0.8 pts
Which financial statement explains the changes in retained earnings between
two dates?
Balance sheet.
@ statement of retained earnings.
Income statement.
Statement of cash flows.
Correct.
, Correct answer
Question 3 0.8/0.8 pts
Which of these is the basic accounting equation?
Liabilities + assets = equities.
Revenues - expenses = net income.
Assets - revenues = equities.
@ Assets = liabiliies + equities.
Correct.
